Money Managers Cut Bets on Higher London Cocoa by 22%
Investors were net-long, or betting on higher prices, by 19,984 futures and options, the commitments of traders report published today on the exchange’s website showed. That compares with 25,640 lots the week ended Dec. 31. That’s the seventh consecutive week that money managers cut bets on higher prices, data on Bloomberg showed. Cocoa slid 1 percent in the period.
In robusta coffee, money managers more than doubled bets on rising prices, exchange data showed. Net-long positions rose to 7,623 futures and options from 3,805 contracts a week earlier. The beans declined 0.5 percent in the period.
Money managers reduced bets on lower prices of white, or refined, sugar, exchange data showed. Net-short positions were cut to 1,185 futures and options from 2,605 the previous week. The sweetener slid 3.4 percent in the period.
In feed wheat, money managers increased their net-short position to 366 futures and options from 332 contracts a week earlier. The grain gained 0.6 percent in the period.
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